Global Synthetic Aperture Radar Market - Segmented by Application (Military and Defense, Monitoring and Exploration), and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global Synthetic Aperture Radar Market was valued at USD 2.24 billion in 2017 and is expected to reach USD 4.24 billion by 2023, at a CAGR of 11.6%, during the forecast period (2018 - 2023). The report profiles synthetic aperture radar (SAR) providers for various applications, such as military and defense, monitoring, and exploration.
Synthetic aperture radars (SAR) have numerous applications, including terrain structural information for mineral exploration, oil spill boundaries on the water to environmentalists, and investigating and gathering information for military operations, among various others. The last two decades have witnessed unprecedented growth in the satellite-based earth observation segment. The sector is still biased toward electro-optically derived imagery. However, increasing levels of acceptance and usage of satellite-derived synthetic aperture radar data were observed, during the last few years. Moreover, factors, such as increasing demand for enhanced imaging technologies for remote sensing and security concerns, specifically to counter terrorism in the Middle East and Asia-Pacific, and the need for continuous awareness of the environment, are expected to drive the synthetic aperture radar market, during the forecast period.
The Monitoring and Exploration Segment is Expected to Register a Significant Growth Rate
Synthetic Aperture Radars are increasingly being deployed for monitoring and exploration applications, such as oil gas exploration, forest monitoring, mineral exploration, and archaeology, among various other. High risk of oil and gas exploration in the sea demands a high-level of safety insurance to prevent environmental damage, monitoring ship activity, oil spills, and monitor environmental parameters. Thus, use the quasi-real-time information received from the SAR imagery, an accurate understanding of the project during the tow-out, positioning, and installation, as well as external environmental conditions, can be obtained. Also, Launch of SAR satellite missions, like Sentinel-1 in 2014, has allowed COMET to track 1,500+ volcanoes above sea-level for any signs of ground deformation, a significant sign of magma activity.
North America is Expected to Register Highest Market Share
The United States is a pioneer in the field of advanced technology in the military applications. Also, the country has the highest military spending in the world. It has been proactively investing in the research and development of synthetic aperture radars and is taking efforts in deploying this technology to increase the operational effectiveness of its surveillance systems. The defense sector of the country has a strong technology front, due to its in-house technological capabilities and partnerships and contracts with major players, such as Lockheed Martin. These partnerships were encouraged through legislation, policy, and organizational innovations, and have been instrumental in encouraging the development of world-class military technology related to SAR, for national defense. Also, the country boasts of the highest number of satellites deployed in the space. With more launches to follow suit, the demand for SAR in satellites missions is expected to increase in the country. Thus, a growth in the Synthetic Aperture Radar market can be expected in the North American region.
Key Developments in the Market
- June 2018- Airbus announced a data-sharing agreement with Thailand-based satellite imagery purveyors, Planet Labs. The deal also comprises a project to deliver a geo-information platform and pipeline for the Thai government.
- March 2018- ICEYE signed an agreement with Kongsberg Satellite Services to acquire SAR satellite tasking and data from ICEYE. The maritime and ice monitoring data will be collected with ICEYE-X1, its first satellite in orbit.
Major Players - Lockheed Martin Corporation, Airbus Defence And Space, Aselsan Aş, BAE Systems, Cobham Plc, General Atomics Aeronautical Systems Inc., Harris Corporation, Imsar Llc, Israel Aerospace Industries Ltd, Leonardo Spa., Maxar Technologies Ltd, Metasensing Group, Northrop Grumman Corporation, Raytheon Company, Saab AB, Sar Aero, SRC Inc., And Thales Group,among others.
Reasons to Purchase the Report
- Impact of the increase in surveillance demand on the synthetic aperture radar market
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis
- The segments that are expected to dominate the market
- Regional analysis of the market during the forecast period
- Latest developments, market shares, and strategies employed by major market players and key innovators
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
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